Employee Turnover is Top Concern for HR Professionals
Last week, we were able to attend the 2015 Annual HR Indiana Conference in Indianapolis. We had a great time speaking to a variety of HR professionals and learning about their performance review challenges and programs. We gathered helpful and interesting insight into what companies are facing in today’s fast-paced, digital world.
A top concern for HR professionals was employee turnover or, better yet, the cost of replacing an employee. This isn’t surprising; employee turnover has a variety of associated costs and can be a problem in any business. Did you know it costs between 30% and 50% of an entry-level employee’s annual salary to replace them?
However, companies are finally realizing that it is cheaper to retain and invest in employees than it is to replace them. Evaluating employee performance and providing constructive feedback on a regular basis is the best way to help employees grow. That’s exactly what SFS is here for.
To learn more about exactly how employee turnover affects a business, view our infographic “The Real Cost of Employee Turnover.”
Thanks to HR Indiana for the great experience! If your business or organization needs help creating effective performance review programs, we’d love to chat. Request a demo of SFS today.